Israeli closure destroys Palestinian economy

A report issued by the World Bank and the Economic Advisory Unit, which works within the office of the UN coordinator in Gaza, stated that the closure on and within the Palestinian territories since August 31 has remarkably affected the Palestinian economy, especially the sectors of production, consumption, saving, projects, and labor income.

The report said that the closure started to affect the improvement of the situation which started in the beginning of the second half of last year.

The closure caused heavy losses to Palestinian labor, a loss estimated at 35.1 million dollars a day. It decreased the income of the sales and services sectors. The report also tackled its effects on internal labor in addition to secondary losses in the income of the workers.